Intel jumps 10% to $99.74, AMD rises 8% to $522, and Broadcom gains 6% to $416 amid broader market momentum.
Semiconductor stocks rallied sharply Tuesday, led by Intel’s 10% gain to $99.74 after a 24% monthly decline triggered short covering. AMD climbed 8% to $522, supported by 57% year-over-year data center growth, while Broadcom rose 6% to $416.
The iShares Semiconductor ETF (SOXX) jumped 6% to $540, a notable move for a non-leveraged fund. The NASDAQ 100 advanced 2.8%, reflecting broader risk-on sentiment as the VIX fell to 16.11, down 11.59% over the past week.
Valuations remain elevated, with AMD trading at a 171x P/E compared to NVIDIA’s 31x, leaving the sector vulnerable to macroeconomic shifts despite today’s gains.